Riyadh-Mubasher: Bank Albilad recorded net earnings of SAR 204.4 million in the fourth quarter of 2015, a decline of 18% compared with SAR 249 million in the year-ago period.
Full-year net profits decreased 9% year-on-year from SAR 864 million to SAR 788.4 million.
The lender attributed the profit decline to increase in total operating expenses by 34.1% as a result of increase in impairment charges of investments and financing.
